Fundamental analysis for April 22, 2016

22 April, 2016

The ECB meeting and M. Draghi press-conference became the main events of Thursday. The regulator left the rate unchanged at 0%. According to Draghi he does not exclude a transfer to the negative rates as well. The soft policy will continue until the inflation reaches 2%.

The pound fell against the US dollar after the disappointing retail sales release, that undermined the optimism about the strength of the British economy. The total volume of retail sales for March was expected with a decrease by 0.1%, but it fell even lower to 1.3%.

Philadelphia Fed Manufacturing index for April decreased and showed -1.6. Initial Jobless Claims came in at 247K against the forecast of 263K.

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